The growing prevalence of diabetes has resulted in the rising prevalence of diabetic retinopathy and blindness in adults. According to the International Diabetes Federation (IDF) data for 2021, nearly 537 million adults (between 20 and 79 years) are living with diabetes. The total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045. 3 in 4 adults with diabetes live in low- and middle-income countries. The report by IDF also stated the maximum portion of people in most countries is suffering from type 2 diabetes. Nearly 79% of the people who have type 2 diabetes are living in low and middle-income countries. Thus, owing to the projections and statistics by IDF, diabetic retinopathy is expected to become a major eye health condition or disease over the next few years.
The COVID-19 pandemic perplexed healthcare institutions in the region with unprecedented operational and clinical challenges. Moreover, the shift of priorities from eye disease treatment to COVID-19 diagnosis and treatment devices led to a decline in market growth to a certain extent. Retinal surgical patients require vital ICU resources and have also been potentially in the risk category of complications of COVID-19. The sustained efficacy of retinal disorder treatment depends on repeated and regular treatment until disease activity has ceased. However, most hospitals and surgical centers have considered canceling or postponing elective surgeries, including retinal surgeries, due to the pandemic situation.
Moreover, market players also witnessed disruption in their business operations, and slumped demand for products had a marginally negative impact on the North America retinal imaging devices market. Hence, the COVID 19 had a somewhat negative effect on the market before the introduction of the COVID-19 vaccine. However, in the long run, as the vaccination schedule has been established and the transmission rate decreases, healthcare systems are expected to return to normal and experience increased demand for retinal imaging devices during the forecast period.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America retinal imaging devices market at a substantial CAGR during the forecast period.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 629.0 Million |
| Market Size by 2028 | US$ 936.7 Million |
| CAGR (2021 - 2028) | 5.9% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Device Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Retinal Imaging Devices Market is valued at US$ 629.0 Million in 2021, it is projected to reach US$ 936.7 Million by 2028.
As per our report North America Retinal Imaging Devices Market, the market size is valued at US$ 629.0 Million in 2021, projecting it to reach US$ 936.7 Million by 2028. This translates to a CAGR of approximately 5.9% during the forecast period.
The North America Retinal Imaging Devices Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Retinal Imaging Devices Market report:
The North America Retinal Imaging Devices Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Retinal Imaging Devices Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Retinal Imaging Devices Market value chain can benefit from the information contained in a comprehensive market report.
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